I really like the analyst John Dorfman who used to write on Bloomberg before creating his own investment company. I found the following info from him regarding some picks on Sept 5, 2007:
Sept. 5 (Bloomberg) -- John Dorfman, chief investment officer at Thunderstorm Capital, talked with Bloomberg's Pimm Fox yesterday from Boston about the performance of Bear Stearns Cos. and his recommendation of Schnitzer Steel Industries Inc., Encore Wire Corp., and St. Mary Land & Exploration Co. (Source: Bloomberg)
On 9/5/2007 - today - gain:
BSC: 108.95 - 74.21 - 32%
WIRE: 26.34 - 15.84 - 40%
SCHN: 60.38 - 56.13 - 7%
SM: 34.53 - 37.53 - 8%
Wow! Seems as though my analyst is a very bad pick. Nonetheless, he picks stocks with strong cash flow, consistent earnings, and those that have been hit for reasons that they should have been. Seems like he picked these a little early. In any case, I want to go over these stocks and perhaps enter into them on any movement up.
Wednesday, January 9, 2008
Tuesday, January 8, 2008
Follow your rules!!!!
Its truly amazing how things can change in a week. The market has tanked and we are now in a bear market.
I was clearly given many opportunities this week to get out of many of my positions will a small loss and even some gain. But my fear, greed, and uncertainty caused me to break my rules and give up much of my profits that I had made last year.
I will be putting in very tight stops, and will most probably be stopped out of many 0f my positions with a loss for this year, but its a lesson I must accept. Too many times I have broken my rules and as a result given back quickly what it took me a much longer to make.
It is because I feel like I cannot make mistakes, especially after a good run, and it always takes a good kick in the butt, like this, to get me back on track. But this is an expensive lesson to learn and obviously I have not learned it as I have repeated my mistakes.
So, for this year, I will be trading heavily, but after each executed trade I will enter at least a 5% stop, and I will not add to my position at a lower price than my purchase price (or average purchase price).
I WILL follow for this year, if for no other reason, then to see if it does indeed help me out.
For the way I trade, and my emotions on the market, I feel bad when I leave money on the table. But I feel real bad, when I lose money that I have made.
I was clearly given many opportunities this week to get out of many of my positions will a small loss and even some gain. But my fear, greed, and uncertainty caused me to break my rules and give up much of my profits that I had made last year.
I will be putting in very tight stops, and will most probably be stopped out of many 0f my positions with a loss for this year, but its a lesson I must accept. Too many times I have broken my rules and as a result given back quickly what it took me a much longer to make.
It is because I feel like I cannot make mistakes, especially after a good run, and it always takes a good kick in the butt, like this, to get me back on track. But this is an expensive lesson to learn and obviously I have not learned it as I have repeated my mistakes.
So, for this year, I will be trading heavily, but after each executed trade I will enter at least a 5% stop, and I will not add to my position at a lower price than my purchase price (or average purchase price).
I WILL follow for this year, if for no other reason, then to see if it does indeed help me out.
For the way I trade, and my emotions on the market, I feel bad when I leave money on the table. But I feel real bad, when I lose money that I have made.
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